Realtors nationwide report cancellations of existing home sale contracts have hit 20%, far above...

|By:, SA News Editor

Realtors nationwide report cancellations of existing home sale contracts have hit 20%, far above the historical norm of 4%-6%, a rate Diana Olick considers "shocking and does not suggest a rebound on the horizon." It's not just the inability of some to get a mortgage; bigger issues are failed inspections, appraisals, buyers with cold feet and adverse economic conditions.